Which of these products is an example of perfect competition?

During 2015, Bears Inc. recorded credit sales of $680,000. Before adjustments at year-end, Bears has accounts receivable of $300

Rufina [12.5K]

Answer:

Bad Debts Expense Debit $ 34,440

Allowance for Uncollectible accounts Credit $ 34,440

Explanation:

Computation of amount of uncollectible balances to be recorded

Total accounts Receivable $ 300,000

Accounts past due $ 51,000

Accounts not yet past due $ 249,000

Estimated uncollectible from not yet past due 10 %

Estimated uncollectible from past due 24 %

Estimated uncollectible from not yet past due 10 % * $ 249,000 = $ 24,900

Estimated uncollectible from past due 24 % * $ 51,000 = $ 12,240

Total Estimated Uncollectible amounts = $ 37,140

Available balance in Allowance account $ (2,700)

Allowance for uncollectible accounts to be recorded $ 34,440

8 0

4 years ago

While designing a website, a(n) _____ allows you to identify the specific amount of space used on a particular page before it co

MrRa [10]

A wireframe would be useful in designing a web page since it would determine the specific amount of space to be allotted for the content to be placed. In addition, it serves as a schematic blueprint which functions as a layout for arranging the elements you want to put on the website.

3 0

4 years ago

Read 2 more answers

Horner Construction Co. uses the percentage-of-completion method. In 2014, Horner began work on a contract for $16,500,000; it w

Leno4ka [110]

Answer:

2014 = zero

2015 = $6,450

Explanation:

2014

Under the completed-contract method of accounting, revenue, expenses, and gross profit is deferred until the completion of the contract. If at the end of the business fiscal year of a company work on a contract remains incomplete, no revenue, expenses, and profit on that contract is recognized in the current year on the income statement; all costs and billings are accumulated in respective balance sheet accounts.

2015

This year, the construction is completed so Horner Construction Co. will now recognize its Revenue and gross profit in relation to the project.

Contract price $16,500,000

Less: constructions costs 10,050,000

Gross profit $6,450,000

* construction cost = ($5,850,000 + $4,200,000)

8 0

3 years ago

In thinking about the Motivating Potential Score (MPS), if jobs score high on motivating potential, the model predicts that moti

RideAnS [48]

Answer:

Absence and turnover

Explanation:

In thinking about the Motivating Potential Score (MPS), if jobs score high on motivating potential, the model predicts that motivation, performance, and satisfaction will improve, while __turnover_ and ___Absence _____ will be reduced. This means that When the five core characteristics of a job is on the high side, it will lead to or generate three psychological states,often leading to positive index of work outcomes, such as high motivation, high satisfaction of work, high quality work performance With low Turnover and Absence. Also it is found that

Motivation theories for the MPS score can be culturally sensitive and it is necessary for owners of companies to be aware and sensitive to national differences.

8 0

4 years ago

Fuente, Inc., has identified an investment project with the following cash flows. Year Cash Flow 1 $ 1,070 2 1,300 3 1,520 4 2,2

Leni [432]

Answer:

Total FV= $6,765.82

Explanation:

Giving the following information:

Year Cash Flow 1 $ 1,070 2 1,300 3 1,520 4 2,260

Discount rate= 8%

To calculate the total future value, we need to use the following formula on each cash flow:

FV= Cf*(1 + i)^n

FV1= 1,070*(1.08^3)= 1,347.9

FV2= 1,300*(1.08^2)= 1,516.32

FV3= 1,520*1.08= 1,641.6

FV4= 2,260

Total FV= $6,765.82

5 0

3 years ago